3M Company (MMM) declined in recent intraday trading, breaking below a short-term rising trend line. This drop was accompanied by a move under the 50-day SMA, intensifying the negative pressure on the stock. Additional weakness is evident from bearish signals on the RSI, signaling the beginning of a corrective bearish wave in the near term.

 

Therefore, we expect the stock to extend its decline in upcoming sessions, as long as resistance holds at 159.00, targeting the first support level at 150.40.

 

Today’s price forecast: Bearish.